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m h
Junior Member
170 Posts |
 Posted - 18 June 2008 : 19:59:32
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Hi,
I sought bankruptcy in 2005 after struggling with debts for 7years +. Bankruptcy was my only choice as I owed nearly £15,000 and had only state benefits coming in - so I could not seek an IVA
There were no objections, and I was given an early discharge in March 2006. I teach my own children and need to purchase schoolbooks from abroad/internet - and for this I need a credit card. After much trouble I finally found a pay-up-front card which suits my purposes. It is not cheap though, and I am on minimum income, and still not in a position to have even a debit card. So again, I cannot take advantage of internet shopping deals.
I'm not blaming anyone but myself for my debts - but when I struggled for 7 years, and my children had nothing, I was "rewarded" with consolidation loans, regular offers to increase my borrowing (which I fell for on more than one occasion) and mis-selling (in the bankruptcy process, I discovered my occupation had been listed as "retired" in one over-the-phone application handled by my bank).
I have already tried Capital One but was refused. I have discovered too that applications have been made on my experian record by people like littlewoods, and Argos - both of whome got my details for catalogues or prize-draws, without any mention of credit checks. I have other catalogues which don't do this.
I have enquired about certain items on my experian file, and now discover that one (debt-recovery agent) who didn't object to the bankruptcy process, will not amend their entry on my file without me contacting them. These were the most disreputable, (and scariest) of my creditors, and I REALLY don't want to have anything more to do with them.
In seeking bankruptcy, I was commended by the judge for the "sterling efforts" I had made to meet these obligations, no official objection was made by any party, and I was given an early discharge without asking for it. Yet now I am penalised for at least 6 years (someone please tell me what difference an early discharge is supposed to make?????); my bank (Nationwide Building Soc) won't consider allowing me a debit card - even though I don't WANT overdraft facilities.
Now when I make every effort to watch my finances like a hawk - I am repaid with hostility and constant obstacles. I said before that I blame no-one but myself - and generally speaking that's true - but the way the banks operate rewarding risk-takers, the moneyed, and those who build up huge debts; but crushing those who try to take responsibility, those who have little* and those who don't borrow.
* I have proof of this - Nationwide, when I asked how I might upgrade my account - said it wasn't only my credit rating which stood against me - but also my lack of money-movement on my account. Because - despite my standing orders, direct debits, and so on - I don't have sufficient cash coming in in the first place.
I was delighted to find your site, because I hope this will be the place to find out what, if anything, I can do to improve my financial situation.. Other debt advisors keep telling me that I can get basic bank accounts with visa debit cards - but when pressed never give the name of any bank which I could approach. And all those I have asked say no. I don't understand the point of early discharge if it makes no difference to anything.
Thanks in advance for any help you can offer.
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applebabe
Junior Member
United Kingdom
243 Posts |
Posted - 18 June 2008 : 20:12:23
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Hya MH and welcome!
You can have a co op cashminder account as I have just got one, and many many people on here will tell you the same, so please give them a try and remember to tell them straight away that you are a bankrupt and that is why you want the cashminder account which is a basic account with a visa electron card>
I will keep my fingers crossed for you :-)
Maxine x |
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JulianDonnelly
Junior Member
United Kingdom
325 Posts |
Posted - 19 June 2008 : 11:32:26
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Hi MH and welcome to the forum.
BR does stay on your credit file for 6 years (as does everything else). Once you have been discharged, that it when your debts are officially written off. In th case of your account upgrade, it is common banking practice to base decisions on the conduct of the accoutn. Providing you have no been bouncing anything, I am quite surprised that haven't agreed to the upgrade. The criteria does seem to vary from bank to bank, but hang in there and the upgrade will happen!
Regards
Julian Donnelly
Spokesperson for www.Bankruptcyhelp.org.uk |
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what can I do to improve my financial position ?
